Bitcoin Jack: Ethereum Could Climb More Assuming A Key Support Holds
According to a widely followed pseudonymous crypto analyst and trader, known as Bitcoin Jack, Ethereum could soar further, if a key support level holds.
Bitcoin Jack shares with his 216,000 Twitter followers that the second largest crypto by market cap could be on the brink of an even larger breakout if a key support level at around $3,333 holds.
“Bearish if this reverses back below $3333 on the weekly but for now we have a breakout pending on the daily.”
If the prediction of a breakout materializes, the trader has set profit targets for $3,800 and $4,500.
In the opposite case that Ethereum falls below current support level, he might enter a short position with the profit target set at around the $2,800 mark.
“Playing the long side, but here is the short to play just in case.”
Same chart, same levels
Bearish if this reverses back below 3333 on the weekly but for now we have a breakout pending on the daily
Looking at the Ethereum aginst its Bitcoin pair (ETH/BTC), according to the trader ETH has reached a level targeted earlier for a possible long entry with the profit target set for at least 0.078 BTC, which is worth $3,908 at time of writing.
“ETH hit trigger discussed in video so back to the original plan from late July.”
ETH hit trigger discussed in video so back to the original plan from late July pic.twitter.com/ErPQc9abZt
